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If quantity demanded is completely unresponsive to changes in price, demand is
- AInelastic
- BUnit elastic
- CElastic
- DPerfectly inelastic
Correct answer: D
Discussion 1
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CCommunity
Perfectly inelastic
If quantity demanded is completely unresponsive to changes in price, demand is Perfectly inelastic. Perfectly inelastic demand means that quantity demanded remains the same when price increases or decreases. Consumers are completely unresponsive to changes in price.
If quantity demanded is completely unresponsive to changes in price, demand is Perfectly inelastic. Perfectly inelastic demand means that quantity demanded remains the same when price increases or decreases. Consumers are completely unresponsive to changes in price.